Limbach (NASDAQ:LMB) Insider Jay Sharp Sells 2,000 Shares

Limbach Holdings, Inc. (NASDAQ:LMB) insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider owned 64,979 shares in the company, valued at approximately $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Limbach Price Performance

Shares of Limbach stock traded up $2.24 during midday trading on Tuesday, hitting $81.33. 293,547 shares of the company were exchanged, compared to its average volume of 147,249. The firm has a 50 day simple moving average of $81.93 and a 200-day simple moving average of $108.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $945.87 million, a P/E ratio of 26.75 and a beta of 1.26. Limbach Holdings, Inc. has a 52 week low of $63.02 and a 52 week high of $154.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The company had revenue of $184.58 million for the quarter, compared to analyst estimates of $184.48 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The business’s revenue was up 37.8% compared to the same quarter last year. Research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has initiated a share buyback program on Monday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Limbach

A number of hedge funds and other institutional investors have recently bought and sold shares of LMB. Caitong International Asset Management Co. Ltd bought a new position in Limbach during the third quarter worth about $54,000. Kestra Private Wealth Services LLC grew its position in Limbach by 18.1% during the third quarter. Kestra Private Wealth Services LLC now owns 5,003 shares of the construction company’s stock worth $486,000 after buying an additional 768 shares in the last quarter. Caxton Associates LLP raised its holdings in Limbach by 4.9% in the 3rd quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after acquiring an additional 168 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Limbach by 13.3% during the 3rd quarter. Wasatch Advisors LP now owns 723,576 shares of the construction company’s stock valued at $70,274,000 after acquiring an additional 84,697 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Limbach by 1,909.5% in the third quarter. Qube Research & Technologies Ltd now owns 29,680 shares of the construction company’s stock valued at $2,883,000 after purchasing an additional 28,203 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LMB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research report on Wednesday, December 10th. Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Wall Street Zen cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus reduced their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $133.50.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.